September 23, 2008
MCCAIN'S FREDDIE MAC LOBBYIST.... Honestly, I have no idea what the McCain campaign was thinking.
The lobbying firm of the man Republicans say John McCain has chosen to begin planning a presidential transition earned more than a quarter of a million dollars this year representing Freddie Mac, one of the companies McCain blames for the nation's financial crisis.
Timmons & Co., whose founder and chairman emeritus is William Timmons Sr., was registered to lobby for Freddie Mac from 2000 through this month, when the federal government took over both Freddie Mac and Fannie Mae.
Newly available congressional records show Timmons's firm received $260,000 this year before its lobbying activities were barred under terms of the government rescue of the failed mortgage giant. Timmons, 77, is listed as a lobbyist for Freddie Mac on the company's midyear financial-disclosure form.
John McCain personally spent most of last week railing against Barack Obama's associations with former Fannie Mae officials were extremely important, worthy of attack ads and overheated speeches. At one point, about a week ago, McCain told CBS, "[T]he influence that Fannie and Freddie had in the inside-the-beltway, old-boy network, which led to this kind of corruption is unacceptable." Soon after, he told a Wisconsin audience, "At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac."
This, after McCain had tapped Freddie Mac's lobbyist to head his presidential transition team? And after he tapped a former Fannie Mae lobbyist as his campaign manager? Seriously?
By this standard, McCain probably should feel compelled to vote against himself.
Or, as Josh Marshall concluded, "I expect a lot of hypocrisy of all politicians, of both parties. But John McCain is really in a class of his own."
—Steve Benen 1:18 PM
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I can easily envision an Obama attack ad using John McCain's words and some appropriate visuals of the McCain lobbyist connections to Fanny and Freddie. What were the McCain people thinking, or were they thinking at all.
Posted by: Ron Byers on September 23, 2008 at 1:20 PM | PERMALINK
It's called "Hit your opponent where you are weak (and before he hits you)."
Posted by: Nanuq on September 23, 2008 at 1:20 PM | PERMALINK
IOKIYAR.
Next Question?
Posted by: Monkey on September 23, 2008 at 1:21 PM | PERMALINK
Not to mention that McCain and the rabid right got a few news cycles of false outrage over Obama's presumed presumptuousness in actually having a transition team.
Posted by: N.Wells on September 23, 2008 at 1:23 PM | PERMALINK
One of the key elements of the "culture of corruption" is to convince people that "everybody does it." You wouldn't accept this argument if your kid was skipping school, but the Republicans have been remarkably successful in dismissing their bad acts this way. Hitting first is merely a bonus.
Posted by: Danp on September 23, 2008 at 1:25 PM | PERMALINK
I can easily envision an Obama attack ad using John McCain's words and some appropriate visuals of the McCain lobbyist connections to Fanny and Freddie.
Please please please do this.
It hits everything at once -- his hypocrisy, his lobbying ties, and his cluelessness, all while keeping the subject on the economic crisis where Obama does better.
Posted by: TR on September 23, 2008 at 1:32 PM | PERMALINK
Here's an idea from Joe Sudbay: call Harry Reid 202-224-3542 and Nancy Pelosi 202-225-4965 and tell them to insist on a separate vote for CEO compensation in the bailout package. Here's the link to the original from Joe:
http://www.americablog.com/2008/09/gop-support-for-ceo-pay-is-sticking.html
The American people are mad as heck and do not want their tax dollars going to multi-millionaires.
And if you haven't called your own Senators and Rep, do so now!
Senate info: http://www.senate.gov/general/contact_information/senators_cfm.cfm
House info: http://clerk.house.gov/member_info/mcapdir.html
Posted by: Hannah on September 23, 2008 at 1:33 PM | PERMALINK
"Class" and "McCain" should never be used together in a sentence without the suffix -less.
Posted by: ckelly on September 23, 2008 at 1:34 PM | PERMALINK
Dear American:
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I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Posted by: gang green on September 23, 2008 at 1:35 PM | PERMALINK
Steve Benen wrote: "I have no idea what the McCain campaign was thinking."
The McCain campaign is thinking that they can say and do whatever they like, and the corporate-owned mass media will let them get away with it. So far, for the most part, they appear to be right.
Posted by: SecularAnimist on September 23, 2008 at 1:35 PM | PERMALINK
I read that story this morning and have been chuckling over it ever since. I bet they did cartwheels and blew party squeakers at Obama HQ.
They can even save money by recycling footage from the "How many houses?" ad.
Camp McPOW will counter by whining that it is SOOO unfair of the nasty old media to point out that McPOW is an evil arrogant hypocrite.
Posted by: The Answer WAS Orange on September 23, 2008 at 1:38 PM | PERMALINK
"Honestly, I have no idea what the McCain campaign was thinking."
I think the big take-away here is that they DON'T think--at least not as we understand the term.
Posted by: Helena Montana on September 23, 2008 at 1:40 PM | PERMALINK
Here is my suggestion for Obama. Since every TV ad he places costs tens of thousands, if not millions of dollars and it goes to support the very people who are refusing to cover his candidacy "responsibly", he should refuse to purchase one more minute of air time for his ads and refuse to pay for another ad. This will cut perhaps millions of dollars from their revenues and force them to interview him and his surrogates in order to cover the election. The only ads will be those of McCain and every charge he makes that is a lie, which is most of them, can be refuted by Obama with a news conference or press release. How will the CSM cover this? Can they simply ignore Obama because he is not paying them to report on him? This is just a thought that came to me. May not be viable, but at least it would cost the corporations that fail to cover him some money. Any thoughts?
I am committed to Oneness through Justice and Transformation
peace,
st john
Posted by: st john on September 23, 2008 at 1:47 PM | PERMALINK
gang green, thanks for the laugh. I needed that!
Posted by: Dennis - SGMM on September 23, 2008 at 1:50 PM | PERMALINK
gang green, can I have permission to post that on my blog. It is wonderful.
Posted by: Ron Byers on September 23, 2008 at 2:07 PM | PERMALINK
I suspect the McCain people figured they could count on the media to ignore that, instead focussing on how mean SNL was to Sarah Palin.
Posted by: kc on September 23, 2008 at 2:19 PM | PERMALINK
The point of this is to make any talk of the Lobbyist ties look like Obama is just reacting. Karl Rove school of thought. Lay your biggest weakness as a weakness in your opponent.
Posted by: KO on September 23, 2008 at 2:34 PM | PERMALINK
From drift glass:
“I pledge allegiance to the Fed
of the United Banks of America,
and to the Republicans who fucked us all
Ruination under Dubya, in the poor house,
With Liberty and Justice for sale.”
"...Sorry, Republicans, but somewhere between the burning of Baghdad and the drowning of New Orleans you used up your reserve of “Trust me” for the next thousand years.
You're a Party of liars, looters and whores who have cried “Wolf!’ while you picked our pockets far too many times for anyone in their right mind to give you the unsupervised access to a gas-station shitter, much less the keys to the Treasury..."
Look Steve, the informed will learn about the connections you posted and know it but those who get all their information from the TV news or daily papers are unlikely to ever hear or know this and that is what is scary and also what McCain counts on. Getting this information out to the public is what will win elections but just to help there are few people who DON'T see our current disaster as being created by republicans.
Bailout hell, confiscate their holdings and funds received over the last 8yrs and use their profits to bail out the homeowners. Start thinking bottom up recovery and not top down. Fuck the ultra wealthy for once and not the middle class poor. These are billionaires unwilling to give up anything to pay for the mess they created in gaining their billions. Now we will see first hand just how much they own and control the leadership of both parties, getting them to make the taxpayers pay for their failures without them (untaxed as they are) ever having to lose a penny while the corporate owned and operated MSM sings alleluia choruses.
Posted by: bjobotts on September 23, 2008 at 2:35 PM | PERMALINK
I'm becoming convinced that McCain is trying to throw this election. However, if someone came up with video of McCain helping OJ hide the bloody knife, his poll numbers would still be in the high 40's. Sheesh!
Posted by: Golan on September 23, 2008 at 2:37 PM | PERMALINK
Ron Byers, that has been making the rounds on various blogs. It began over in the comments section of a post at nakedcapitalism.com.
Posted by: gang green on September 23, 2008 at 2:42 PM | PERMALINK
"...if an institution is too big to fail without destroying our economy then it is too big to exist."
Too big to fail then too big to exist...Bank of America bought Merril Lynch so what happens if it fails next year. If you gave out $600 billion in bonuses and compensation would you have the nerve to ask for $700 billion in bailout funds? McCain is insane. Phil Gramm as Sec of Tres. is like Christmas to the very wealthy...a gift that keeps on giving. McCain is not bright enough to run a country...just bright enough to take orders...from Wall street. "Fundamentals of our economy are strong"...whoops...now he is redefining the meaning of "fundamentals"...."That's the American worker...factory worker...he works out with weights...he is strong" The 'maverick' is really a 'goober' and what he does is called "goobering". McCAIN HAS NO ECONOMIC PLAN. HE WANTS TO LINK OBAMA TO A BUSH/PELOSI/REID "NECESSARY" BAILOUT PLAN WHICH A MAJORITY OF AMERICANS OPPOSE IN ORDER TO WIN THE ELECTION. (Just like FISA)
Posted by: joey on September 23, 2008 at 3:01 PM | PERMALINK
Using this model, I fully expect the McCain campaign to come out with an ad saying that Obama is too old and cantankerous to lead this great nation of ours . . . friends.
Posted by: BD on September 23, 2008 at 3:22 PM | PERMALINK
Well, since Timmons is 77, maybe McCain just wanted to inject some young, fresh blood into his campaign.
Posted by: Spero Melior on September 23, 2008 at 3:28 PM | PERMALINK
The point of this is to make any talk of the Lobbyist ties look like Obama is just reacting. Karl Rove school of thought. Lay your biggest weakness as a weakness in your opponent.
Bingo.
Plus, they got to reinforce the wingnut-scaring message that Obama is a black guy who sometimes talks to other black guys. About us. When we're not around. Probably making plans to enslave the white race and force us to pick lettuce at $0 an hour.
Posted by: shortstop on September 23, 2008 at 4:45 PM | PERMALINK
After the '04 election where Kerry was the coward who scammed his purple hearts while Bush was the patriotic hero of all wars in all times, I fail to be shocked by this. It's only a little more obviously untrue, but Das Base won't care and the fourth estate has gone entirely missing.
Posted by: short fuse on September 23, 2008 at 5:15 PM | PERMALINK
"Soon after, he [McCain] told a Wisconsin audience,
"At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac."
—Steve Benen
Why is John McCain unaware that today's credit crisis isn't about Fannie Mae & Freddie Mac?
Is John McCain too old to keep up with the news?
America can't take a chance on McCain.
We need to make a real change.
Posted by: MarkH on September 23, 2008 at 8:58 PM | PERMALINK
"gang green, can I have permission to post that on my blog. It is wonderful."
Posted by: Ron Byers on September 23, 2008
----------------
ROFLMAO 707
Posted by: MarkH on September 23, 2008 at 9:01 PM | PERMALINK